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Investing in Gold in Washington

The Pacific Northwest is a beautiful corner of the United States. It has a diverse climate, landscape, and culture. Tucked against the border of the Province of British Columbia of Canada, is the state of Washington. It is named for the first President of the United States, George Washington. It is an average size state in both area and population, although it is the second most populated state in the Western United states, with most of its residents living in the metropolitan area of its largest city, Seattle. This city is situated along the Puget Sound, an inlet to the Pacific Ocean, and comprises the commercial and industrial center of the state. Along the coast of the state are many bays, inlets and fjords carved from glaciers which floated down from the north. The state has a large mountainous region with dense rain forests, as well as a sizable basin region which lends itself to agricultural pursuits.

Just like its neighbor to the south, the state is a leading producer of lumber and timber. There are a wide variety of trees throughout the landscape, like Douglas Firs, cedar, larch spruce, white pine and ponderosa trees. In addition, the state also leads the nation in production and exporting of apples, pears, red raspberries, and sweet cherries. Another revenue generator for the state is the fishing industry, where the locals catch salmon halibut, and other ocean fish. It also has manufacturing concerns in shipbuilding, aircraft building, defense contracts, and chemical plants. There are a number of dams throughout the state for water storage, flood control power and irrigation.

The diverse economy in the state of Washington may lead one to believe that it will always remain vibrant and bustling. However, the residents of the state are fully ware that the markets for their products can dry up leaving them with no positive flow of income. Therefore, it is a necessity that they look out for their economic future. They must make wise investments with their hard earned money to give themselves a stable and secure financial future. The question is where to place their money. They could invest in real estate, but the recent housing market collapse has created confusion making any investment in property a risky proposition. They could send their money cross country to the brokers on Wall Street, but even in Washington, there lies a deep mistrust and lack of confidence in our financial institutions. The solution may be to invest in gold and silver.

When buying gold or silver, be aware there may be a tax on the transaction. Under Washington tax laws and regulations, www.dor.wa.gov, there is a state wide sales and use tax of 6.5%, with an additional 1% to 3.1% added by local municipalities. There is an exemption for any precious metal bullion whose value is depended on its metal content and no tits form or shape, and also for coins or legal tender made of precious metal. There I no exemption for paper currency or non legal tender products, or items that increase the value of the metal due to its shape , like a piece of jewelry.

Golden Eagle Coins, being an out of state retailer, does NOT have to charge sales tax to Washington residents. Browse our selection of tax-free gold and silver products. Please take note that we are not experts on tax issues, and you may be liable to pay local Use tax. Please contact your local tax professional for more information.